United Bank of Michigan will be implementing Wolters Kluwer Financial Services’ management software, ComplianeOne.
The software is Wolters Kluwer’s service-based business process management (BPM) solution that helps automate lending workflows and reduce regulatory risk.
ComplianceOne manager helps users recognize which tasks are the bank’s top priorities at any time and ensures documentation meets regulatory requirements and is completed on time.
Cindly Lowman, president of the United Bank’s mortgage corporation, said: “ComplianceOne manager has become the eyes and ears of our offsite staff, giving them access to loan information without the actual paper file.”
“The result is fewer bottlenecks in the lending pipeline, faster processing times, reduced administration time and more responsive customer service.”
Lisa Fraga, vice president and general manager of banking solutions at Wolters Kluwer, said: “Implementing a BPM solution helps financial institutions gain better process visibility.”
“With the ability to monitor loan portfolios in real time, financial institutions can proactively detect and respond to changes in the marketplace before they erupt into serious business or compliance issues.”
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